Vestis Corporation (NYSE:VSTS – Get Free Report) shares were up 7.1% on Thursday . The stock traded as high as $16.58 and last traded at $16.6150. 625,100 shares were traded during trading, a decline of 62% from the average daily volume of 1,660,889 shares. The stock had previously closed at $15.51.
Analyst Ratings Changes
VSTS has been the subject of a number of recent research reports. William Blair raised Vestis from a “market perform” rating to an “outperform” rating in a research report on Tuesday, May 12th. Weiss Ratings downgraded shares of Vestis from a “sell (d)” rating to a “sell (d-)” rating in a research report on Wednesday, May 13th. The Goldman Sachs Group reaffirmed a “sell” rating and issued a $7.50 target price on shares of Vestis in a report on Wednesday, May 13th. Barclays raised their price objective on shares of Vestis from $6.00 to $9.00 and gave the company an “underweight” rating in a research report on Friday, May 15th. Finally, Zacks Research raised Vestis from a “hold” rating to a “strong-buy” rating in a report on Friday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have given a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Vestis currently has a consensus rating of “Reduce” and a consensus target price of $9.50.
Get Our Latest Stock Analysis on VSTS
Vestis Trading Up 5.7%
Vestis (NYSE:VSTS – Get Free Report) last announced its earnings results on Tuesday, May 12th. The company reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.07. Vestis had a negative net margin of 0.63% and a positive return on equity of 5.27%. The company had revenue of $659.44 million during the quarter, compared to analysts’ expectations of $655.32 million. During the same quarter in the previous year, the business posted ($0.05) earnings per share. The firm’s quarterly revenue was down .9% compared to the same quarter last year. Analysts forecast that Vestis Corporation will post 0.52 EPS for the current year.
Institutional Inflows and Outflows
Several institutional investors have recently added to or reduced their stakes in VSTS. Nisa Investment Advisors LLC raised its position in shares of Vestis by 147.3% in the fourth quarter. Nisa Investment Advisors LLC now owns 5,175 shares of the company’s stock valued at $35,000 after buying an additional 3,082 shares during the last quarter. Farther Finance Advisors LLC grew its stake in Vestis by 176.1% in the 4th quarter. Farther Finance Advisors LLC now owns 5,193 shares of the company’s stock worth $35,000 after acquiring an additional 3,312 shares during the period. Eurizon Capital SGR S.p.A. acquired a new position in Vestis in the 4th quarter valued at $36,000. EverSource Wealth Advisors LLC lifted its stake in shares of Vestis by 471.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 5,456 shares of the company’s stock worth $31,000 after purchasing an additional 4,502 shares during the period. Finally, Osaic Holdings Inc. boosted its holdings in shares of Vestis by 703.2% during the second quarter. Osaic Holdings Inc. now owns 5,743 shares of the company’s stock worth $33,000 after purchasing an additional 5,028 shares during the last quarter. Institutional investors and hedge funds own 97.40% of the company’s stock.
About Vestis
Vestis Corporation provides uniform rentals and workplace supplies in the United States and Canada. Its products include uniform options, such as shirts, pants, outerwear, gowns, scrubs, high visibility garments, particulate-free garments, and flame-resistant garments, as well as shoes and accessories; and workplace supplies, including managed restroom supply services, first-aid supplies and safety products, floor mats, towels, and linens. The company serves manufacturing, hospitality, retail, food processing, food service, pharmaceuticals, healthcare, automotive, and cleanroom industries.
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